Rs 2,628 crore bonus for TCS employees!

Rs 2,628 crore bonus for TCS employees!

Country’s largest software services firm Tata Consultancy Services on April 16, said it will give out one-time bonus to employees that will be cost it Rs 2,628 crore. TCS will pay employees a Special Reward or a one-time bonus to mark the 10th anniversary of the company’s initial public offering in August 2004, TCS said in a statement. For the company, the total consideration for this special reward will be Rs 2,628 crore, it added. All employees who have completed at least one year of service will be eligible for the special bonus payment. The company had 3.18 lakh employees as of October- December, 2014 quarter. Each employee will be given a reward equivalent to one week’s salary for every year of service completed at TCS, it added.

“On April 16, we act as a strategic partner to many global customers and TCSers are well-known for their ability to execute, innovate and provide leadership in the customer’s context,” said TCS CEO and Managing Director N Chandrasekaran.

Chandrasekaran also said the cloud platforms had crossed the annual run-rate of $100 million and generated $125 million of annual revenue in FY15 at a growth rate of 55% year-on-year.

This Special Reward to employees acknowledges the role the employees have played in building TCS into one of the most respected and valued technology services companies in the world, he added. TCS went public in August 2004 listing its shares on the Bombay Stock Exchange and the National Stock Exchange.